okay, I don't think of myself as a blogger--I read a few blogs fairly regularly, well obsessively and occasionally I post something.  
I too followed JoP from dk, and I like ET because of the "trans-atlantic" perspective and because of the intelligent comments

I may be wandering into wacko territory here, but I think also I have this fantasy that European life is so much more intelligent and sophisticated than anything you can get off the shelf here, so it's a way to (maybe) experience that a little bit

And look at how wonderful the "flame wars" are!  You can't beat this warm, tactful agonizing across several diaries, one of which doesn't even allow comments!  Where else could you find anything like this.

I did get a huge kick out of the housing bubble blog before the bubble officially burst and before that actual meltdown last fall.  Now that the mess has happened and everyone sees it, it just isn't any fun anymore.  I guess it's fun to feel like you're in the know--hanging out with everyone who is not afraid to talk about the bubble that most people are pretending doesn't exist.  

I think there is an element of that with ET--I feel like I'm hanging out, (more like observing from a perch on the rafters), at a place most people I know do not believe exists.